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Wow, that's lot of stuff to read. But the primary question still remains.

Why my traffic keeps on decreasing ? Is there no "silver bullet" to prevent this downfall ?

Also can you suggest some brief ways to increase traffic!

OK. Can you tell me the best method (white hat SEO) to build links, so that I don't get penalized by either Panda or Penguin or Google?

Oh! Thanks.

I actually did a 301 re-direct around Dec 20th --22nd. At that time, I got all my traffic. There was also a slight increase in traffic also.

But if you still think my re-direct is not proper, can you guide me on a proper re-direct so that I can get all the link juice and get back my original PR rankings?

Ya, I observed it. Whenever there is a Panda or Penguin refresh, I loose traffic. It happened in Nov. 2012 and now again. Last time somebody told that I was a EMD culprit. So I changed my domain name.

Now I still have issues.

"So my question to you would be is the content on your site duplicate or spun content?  Are they high quality content or are they being written on the cheap?  These things can lead to a Panda penalty."

I actually write articles manually. There is no exact duplicate content either. I do not use automated tools for spun content. The only thing I do is research the web and write articles in my own words. Sometimes I write high quality articles based on my experience.